Date Received: 2021-10-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2021 I received a letter from XXXX management consulting Company stating that my loan had been transferred to and that the payments were expected by XX/XX/2021. On XX/XX/XXXX th, I received an updated letter stating that the payments should not be sent prior to XX/XX/2021. In the midst of this, I attempted to send payment to no avail. I eventually sent the payment to the previous servicer ( XXXX ). I am in fear that this is a scam for I never could communicate to XXXX. I also received a letter from XXXX XXXX but also could not. I would like this company to be investigated for fraud.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19120
Submitted Via: Web
Date Sent: 2021-10-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In mid XXXX I had requested that the PMI on my mortgage with Specialized Loan Servicing be removed. My home was completely renovated and have approx 60 % equity. My 1st request was in mid XXXX via a phone call. SLS then sent me a letter dated XX/XX/2021 stating that according to their research, I only have 16 % equity. The letter also stated that if I wanted to have a BPO or appraisal completed, I needed to fill out and sign the authorization included w/ the letter and fax or mail it back to them. I filled it in, completed the question about any major renovations/updates, signed it and faxed it back on XX/XX/2021. On XX/XX/2021 I called and spoke to XXXX at SLS. He confirmed that the authorization that I faxed was received on XX/XX/2021 and told me that it could take up to 30 days to review and if needed, a broker or appraiser would be in contact to schedule a time to look at the house. As of XX/XX/2021 I sent SLS a message through the message center explaining that I had not heard from anyone ( I thought I would have had a message or a call from an appraiser by this time ), and could they provide me an update. On XX/XX/2021 I received a message that they had received the authorization ( but no other update ). I sent a message back on XX/XX/2021 and asked for specifics on what was going on and when I should hear from someone. On XX/XX/2021 I received another message from SLS stating that a signed authorization was required before they could review the file and schedule a BPO/appraisal. Once again, I sent a message ( on XX/XX/2021 ) that the authorization was already sent and 2x SLS confirmed that it had been received. On XX/XX/2021 I received a message from SLS that a decision letter was sent to me on XX/XX/2021 and I should refer to the loan and document section to see a copy of it. There was no such document sent on XX/XX/2021 ( the letter was sent to me on XX/XX/2021, not XX/XX/2021 ). Based on the last 2 messages from SLS, I have to assume they aren't even reading my messages or looking into the request. It's been over 2 months since my request and I continue to get the run around from SLS and continue to have to pay the PMI on my mortgage. Even if I hadn't renovated the house, AZ property values have increased 25 % in the last 12 months in my area. I have sent them all docs required. My experience with SLS in the past has been similar. They do not address questions or issues in a timely manner.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85351
Submitted Via: Web
Date Sent: 2021-10-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I applied for a loan modification after my Covid forbearance ran out. I was sent a letter on the XXXX saying documents were missing. During the month it was in the review I received over 10 collection calls and not one told me documents were missing. Right after on the XXXX SLS ( Specialized Loan Servicing ) Saying THat I was denied for all options to keep my home and continue paying my mortgage. XXXX was done even though our COvid hardship has passed and My wife and I are working and willing to pay to keep our home. We just can't pay a year 's worth of payments in one shot. At no time did they offer any of the government waterfall options. How would I be able to reply and send documents if they sent a rejection on all fronts a day after asking for documents? Obviously, all they want to do is kick us out and not even give us an opportunity or respect the Covid programs given by the government. Please help us as we are being railroaded by an obviously crooked loan servicer.. Sincerely, XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 331XX
Submitted Via: Web
Date Sent: 2021-10-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I recently tried to refinance our loan with Specialized Loan Servicing, LLC ( SLS ), but SLS deficient loan servicing prevented us from being able to take advantage of refinancing. I spent the last six weeks working with the lender to help them understand how badly SLS has mishandled our account, but the SLS loan servicing history, failure to provide accurate information and general unwillingness to address these issues led to our refinancing being denied. SLS Loan Servicing History SLS deficient loan servicing began immediately after SLS acquired two of our loans from XXXX XXXX XXXX on XX/XX/XXXX. Payments made to XXXX XXXX XXXX on XX/XX/XXXX for XX/XX/XXXX were not applied by SLS for months, even though the payments were in SLS system as of XX/XX/XXXX. We subsequently received a letter from SLS dated XX/XX/XXXX noting that our account was undergoing maintenance, during which time payments would not reflect on our account and our account would be inaccessible online, ( Attachment One ). SLS kept our account in maintenance until XX/XX/XXXX. During this time, online access to the account was frequently unavailable and I was repeatedly told by SLS representatives that statements COULD NOT be generated, ( regardless of whether or not we had requested to receive statements ). After repeated phone calls and correspondence with SLS, SLS sent a notice that a new account was created on XX/XX/XXXX, ( Attachment Two ). From XX/XX/XXXX through XX/XX/XXXX, I called SLS to inquire on the account balance and made multiple payments at the instruction of SLS representatives. These calls and payments include : 1. Called SLS on XX/XX/XXXX. Made payment of {$900.00} on XX/XX/XXXX for XX/XX/XXXX per SLS representative to bring the account current. 2. Called SLS on XX/XX/XXXX. Made payment of {$410.00} on XX/XX/XXXX per SLS representative to bring the account current. 3. Called SLS on XX/XX/XXXX and was told by SLS representative that the account was a mess and showed an overage of {$650.00} on the payment due XX/XX/XXXX, so no payments would be due until the end of XXXX. 4. Called SLS on XX/XX/XXXX and was told by XXXX representative that they could not tell me account details because the account was still in maintenance. 5. Called SLS on XX/XX/XXXX and was told that XXXX XXXX XXXX payments and two previous payments made to SLS were in SLS system, but no information was available on amount due because the account was still in maintenance. 6. Called SLS on XX/XX/XXXX. I was told that the account balance was approximately {$2000.00}, but that the account would be out of maintenance on XX/XX/XXXX. I would get a call with the balance due once the account was out of maintenance. Never received a call from SLS that account was out of maintenance. 7. Called SLS on XX/XX/XXXX. I was told that payments to SLS were applied to XXXX payment even though the XXXX payments were made to XXXX XXXX XXXX. Made payment of {$1800.00} on XX/XX/XXXX per SLS representative to bring the account current. 8. Called SLS on XX/XX/XXXX. Made a payment of {$1500.00} on XX/XX/XXXX per SLS representative to bring the account current. Still no online access. 9. Called SLS on XX/XX/XXXX. Made payment of {$770.00} on XX/XX/XXXX per SLS representative to bring the loan current. Still no online access. I was told the loan was still in maintenance. 10. Called SLS on XX/XX/XXXX. Made payment of {$520.00} on XX/XX/XXXX per SLS representative to bring the account current, consistent with statement dated XX/XX/XXXX. 11. Called SLS on XX/XX/XXXX. SLS representative said, This is a mess, Accounts dont make any sense, and This is not right. A new account had been opened, but not all payments were transferred to the new account. The SLS representative requested payment research for both accounts, which I was told would take seven days. Made a payment on XX/XX/XXXX of {$1000.00} to bring the account current per SLS representative. 12. Called SLS on XX/XX/XXXX. Made payment of {$2300.00} on XX/XX/XXXX per SLS representative, which included an additional payment that SLS representative said was necessary to bring the account current. In the ten months listed, I made at least a dozen calls to SLS to find the payment required to keep the account current, ( Attachment Three ). I was told four times by SLS representatives that no information was available for my account. I made eight payments at the direction of SLS representatives, who represented each time that I was paying the amount necessary to keep the account current. While we made the payments necessary to keep the account current as represented by SLS representatives, SLS verification of mortgage, ( Attachment Four ), continued to show three payments 15-30 days late despite previous correspondence from me asking for these late payments to be removed. I still do not know why SLS collected an extra payment on XX/XX/XXXX which is inconsistent with the statement provided by SLS on XX/XX/XXXX and the other payments made in that period, ( although I suspect that in reconciling the account, SLS realized that they had omitted billing and collecting a XX/XX/XXXX payment ). Refinancing Issues SLS deficient loan servicing created multiple issues with refinancing. I provided a copy of SLS verification of mortgage to the lender, but this verification includes the three late payments from the time the account was in maintenance that SLS has refused to adjust, ( Attachment Four ). After I explained the issues I had with SLS verification of mortgage to the lender, the lender contacted SLS for loan verification and was incorrectly told that SLS did not start servicing the loan until XX/XX/XXXX, resulting in the lender requesting me to provide XXXX XXXX XXXX payment history from XX/XX/XXXX to XX/XX/XXXX, ( during which time the loan was with SLS ). As there was no XXXX XXXX XXXX payment history for the time our loan was with SLS, I provided a record of payments I had made to SLS during the previous 24 months, ( Attachment Three ). The lender questioned why the payment history I provided showed payments made on the loan from XX/XX/XXXX through XX/XX/XXXX varying in amount, with no payments one month and multiple payments in other months, ( which are the direct result of SLS having the loans in maintenance ). I again tried to explain to the lender that SLS kept the loans in maintenance for ten months, which required me to call and rely upon SLS representatives for the amount due. The lender then requested that I provide the 24-month payment history from SLS. The document provided by SLS on XX/XX/XXXX shows NO PAYMENTS from XX/XX/XXXX through XX/XX/XXXX ( Attachment Five ). While the documents transaction dates start on XX/XX/XXXX, the first entries are two large adjustments on XX/XX/XXXX. The 24-month payment history provided by SLS is not only incorrect, it also doesnt seem to meet industry standards according to the lender, as it is simply a spreadsheet with our name, account, payments and adjustments. There is no SLS identification, date produced, signature of representative or ANY indication this payment history was produced by SLS. With no information provided by SLS to account for the inconsistent payment history, the lender requested a letter from SLS explaining that they had serviced the loan since XX/XX/XXXX and that payments were made in a timely fashion per SLS representatives while it was in maintenance. I contacted SLS with this request on XX/XX/XXXX. I spent four days waiting to speak to a supervisor. SLS supervisors repeatedly tried to contact me using the wrong numbers on our account, requiring me to twice call and repeat my request to speak to a supervisor. When I finally spoke to a supervisor on XX/XX/XXXX, I was told the supervisor could not provide ANY additional explanation, documentation or notes that reflected my payment history while in maintenance. My only recourse was to mail a request to SLS. I explained to the supervisor that, as we were nearly a month removed from the lender questioning SLS 24-month payment history and that SLS had complicated the matter by telling the lender that SLS was not the servicer of the loan prior to XX/XX/XXXX, time was of the essence. SLS previously took 34 days and 52 days to reply to my written correspondence. I simply could not wait that long again for SLS to provide an explanation of their serving history. The representative apologized but said that SLS would not accept any requests by email or fax. The lender unfortunately, was unable to wait any longer to process the loan. When I explained the situation to the lender in an email on XX/XX/XXXX, I was told that due to time constraints, they had to submit the loan for final review. On XX/XX/XXXX, we were denied refinancing due to the issues surrounding our payment history with SLS.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage was purchased in XXXX by Specialized Loan Servicing. XXXX XXXX XXXX. XXXX XXXX, Co XXXX In XXXX the company began purchasing two homeowners insurance policies for the same duration of time. Each policy purchased sufficiently covered the financial responsibility for the property, creating a deficit in my escrow account. The company never notified me of this practice or action. The company then escalated my monthly mortgage payment to include the deficit they created! In XX/XX/XXXX I complained in writing, due to their inaction over the past two years! The company then placed a 60 day late payment on my credit report and purchased two homeowners insurance policies again in XXXX of XXXX while still in talks about this complaint, after notifying the mortgage company Not to Renu the current homeowners insurance policiy and providing them with the correct information on the new insurance company to provide payment to, the mortgage company had already paid to renew the policy and never informed me of the situation. Escalation payments were requested from the mortgage company. I paid the escalated request amounts. My monthly statements were often incorrect or lacking pertinent information. In XXXX of XXXX the winter storm in Texas caused sever damage to my home. In XXXX of XXXX I mailed the first installment repair check to the mortgage company for endorsement and I never received the check back to begin repairs. My home remains gutted, with no repair work being done because of the mortgage company 's inability to correct the issues of my concern. It will soon be a year that I have been unable to live in my home! In XXXX of XXXX the mortgage company 's attorney requested proof of the XXXX and XXXX double payments to the insurance companys, stating their request was to settle this mix up with my account. I complied and no attempt was made to correct my account. Now their story has changed along with the accounting history of my account. I began to pay only Principal and Interest in XXXX of XXXX. In XXXX of XXXX I learned that nothing has been corrected and my principal and Interest payments are being applied to the escrow account imaginary arrears. All documents have been provided to the mortgage company along with recordings of my conversations with their employees. The only action taken has been a re-creation of the accounting within my account, within their company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 770XX
Submitted Via: Web
Date Sent: 2021-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Our mortgage was placed into forbearance without our permission or us asking. We did not ask for a change in our terms nor did we sign anything giving permission//MORTGAGE FRAUD- Help! They offered on XX/XX/XXXXthey offered to just pick up where we left, we NEVER got any such letter, I checked in with the AGs office thats how I learned same but it was too late at this point! The AGs office could not of cared less! I need help! Please! Im on XXXX XXXX from side effects of XXXX and XXXX XXXX cant handle this XXXX!!! Please please help!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 020XX
Submitted Via: Web
Date Sent: 2021-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XX/XX/XXXX I qualified for a mortgage Forbearance due to Covid, the Forbearance ends XXXX XXXX. My property is located in XXXX, Fl and I am a XXXX XXXX who runs a XXXX XXXX XXXX XXXX ; I am also a XXXX XXXX. Due to the Pandemic I was unable to have students at XXXX XXXX and due to worry and concern over the potential impact of a Forbearance I made calls to the mortgage company, Specialized Loan Servicing, on a frequent basis throughout the forbearance period and had my accountant on the phone with me during these times to ensure that I understood everything and did not miss anything. As I have gotten closer to the end of the forbearance period my accountant and I have made weekly calls to ensure that the process of resuming the mortgage payments would be manageable. I was assured that Specialized Loan Servicing would modify the loan and that all missed mortgage payments would be applied to the back of my loan and that the term of the loan would be extended and that I would resume my monthly payments as before. Today my accountant and I once again contacted Specialized Loan Servicing because they were to send us loan modification papers which had not been received. At that time I was informed that I have two options, to pay the forbearance amount of {$29000.00}, which had been explained to me before, or if I modified the loan then my monthly mortgage payment would increase from {$1700.00} a month to {$3000.00} a month because they would escrow taxes and insurance. In all the many conversations that my accountant and I have had with Specialized Loan Servicing over the course of the past 18 months, many of which were recorded, it was never mentioned that when payments resumed that property taxes and insurance would be escrowed. As I struggle to resume working and managing monthly mortgage payments I am unable to afford to have my monthly mortgage payment doubled. During the pandemic I struggled to make sure that both property insurance and property taxes were paid on time. I depend on XXXX XXXX to support XXXX XXXX and feel that it is grossly unreasonable for the mortgage company to change the terms of my original loan to escrow monies which will impact my ability to meet my monthly obligations. Today when my accountant and I shared this with the Specialized Loan Servicing representative she checked her notes and agreed that through the many calls made regarding the Forbearance and loan modification this information was not shared.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33133
Submitted Via: Web
Date Sent: 2021-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-21
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: On XX/XX/2021 Specialized Loan Servicing LLC reported a {$10000.00} dollar increase in my mortgage balance. My billing statement states my mortgage balance is {$110000.00} and they are reporting the balance as {$130000.00}. This is the fourth time they have reported an increase in my mortgage balance while I have been on a forbearance plan with them. Each time I dispute the increase, they correct the balance back to the stated balance on my billing statement and then state they are providing accurate information. They also state they are adding the missed payments to my mortgage balance which would imply that I am liable for the payment twice, once under the existing mortgage balance and again by them adding the missed payment amount to the mortgage balance. They then report the increased balance to the credit bureaus even though I am on a forbearance plan with them and the Cares Act makes it illegal to do so.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AK
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Specialized Loan Servicing is now demanding foreclosure or me to send them an absorbent amount of XXXXThey will not give me the name of the Bank or Loan holder. XXXX XXXX had my mortgage loan and pulled out of the state. Leaving me and lots of other people with a fly by night company. Named Specialized Loan Servicing with a XXXX XXXX XXXX rating of one star. They put me on a corona virus program called a loan deferment program. Which than put us in deeper in debt. The program was utterly useless. So we've requested our payments to be put on the end of the mortgage. They sent us a request form for our pay stubs on Thursday than on Friday sent me & told me they are starting foreclosure. Than Saturday sent me a new drive by appraisal. They would not give the name of the Bank or Loan holder. They offered us to put the deferred payments on the end of the loan. And than took that offer totally away before we sent them any pay stubs and a letter to review. Yet said they reviewed it which they did not have yet to review whatsoever. Any help to have our payments put on the end would be much appreciated! Thank You! Signed : XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 49120
Submitted Via: Web
Date Sent: 2021-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-10-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage included an escrow account is with CMC funding ( Specialized Loan Servicing LLC ). They are not professionally running the tax disbursement from my escrow account. I have to contact them multiple times for XXXX school tax. The statements showd double tax payment on XX/XX/XXXX for {$2100.00} and XX/XX/XXXX for {$2300.00} ( included 10 % penalty ) out of my escrow account. When I contacted them, the first agent was mad at me and said this question is for the escrow department, not for the tax department. And then they promised to start an investigation of this double payment. I had to contact our tax collector to confirm the disbursement. He mentioned the check on XX/XX/XXXX for {$2100.00} was NEVER CASHED. The mortgage company should be able to confirm it very quickly and return the credit back to my escrow account soon. I had to follow up on this mistake caused by the mortgage company myself, which is wasting my time and money. Obviously, they don't run my escrow account professionally.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19426
Submitted Via: Web
Date Sent: 2021-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A